Ten Year Tax Holiday In Respect Of Certain Undertakings In Himachal Pradesh, Sikkim, Uttaranchal And N.E. States — Section 80-IC

[ Deductions Allowed to NRIs in the Computation of Total Income and Tax Payable]

Such undertakings or enterprises which manufacture or produce any article or thing, not being those specified in the 13th Schedule, and which commence operation in any Export Processing Zone, IIDC or IGC or TE or IP or STP, etc. as notified by Board would be allowed 100% deduction of the profits of th undertaking for 10 years in the States of Sikkim and North Eastern States. For the States of Uttaranchal and Himachal Pradesh, the deduction would be 100% of the profits of the undertaking for 5 assessment years and thereafter 25% (30% for companies) for the next 5 assessment years. Similar deduction would be available to thrust sector industries as specified in he 14th Schedule as per the Finance Act, 2003 w.e.f. the A.Y. 2004-2005.
 
Deductions Allowed to NRIs in the Computation of Total Income and Tax Payable
1.Tax Benefit Regarding Life Insurance Premium, PPF Contributions, Nscs, Tuition Fees, etc.
2. Deduction For Donations To Certain Funds And Charitable Institutions
3. Deduction In Respect Of Profits And Gains From A New Industrial Undertaking Or Infrastructural Facility
4. Five-Year Tax Holiday To Hospitals At Certain Locations Sec. 80-1B (IIC)
5. Tax Holiday To Enterprises Providing Telecommunication Services, Industrial Parks, New Hotels And Having Commercial Production Of Mineral Oil
6. Five Year Tax Holiday For New Industrial Undertakings In Industrially Backward Areas & Districts
7. Liberalisation Of Tax Holiday Provision For Infrastructure, Telecom Services, Power Generation, Special Economic Zones, Industrial Parks, etc. [ Section 80-IA]
8. Ten Year Tax Holiday In Respect Of Certain Undertakings In Himachal Pradesh, Sikkim, Uttaranchal And N.E. States Section 80-IC
9. Five-Year Tax Holiday For Hotels In Districts Having A World Heritage Site Sec. 801D
10. Tax Holiday For Hotel And Convention Centres In NCT Of Delhi And Other Areas Section 801D
11. Deduction’ In Respect Of Medical Insurance Premia Section 80D
12. Additional Deduction For Health Insurance Premium Paid For Parents Section 80D
13. Deduction Of Repayment Of Loan For Higher Studies Section 80E
14. Deduction In Respect Of Certain Undertakings In North Eastern States
15. Other Deductions Like Depreciation, Etc. To Nonresident Indians
 
 
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